I was recently at a meeting for Next Level Northwest a business accelerator, there was a presenter who was talking about her business and casually mentioned KPI’s. I don’t think the room took much notice.
I don’t think that they took much notice because not everyone if familiar the business term KPI. If stand for Key Performance Indicators. Basically a company’s metrics that it follows diligently on a hourly, daily, weekly, monthly, quarterly or annual basis.
Hotels measure rooms rented, car rental facilities measure cars rented per day, Google measures clicks and Amazon measures time per page. NFP’s measure clients visited or clients assessed or served.
These measurements tell you were you are within a specific period of time and you can check the metric to a prior period if the data is available. So you can see if you are growing or declining.
So what does your company measure?